First time buyers light up the market for O’Donnellan & Joyce

October and November brought renewed hope to the property market in Galway. First time buyers were out in force with a volume of activity that had not been experienced in previous months.

Colm O’Donnellan of O’Donnellan & Joyce said the lower end of the market has been extremely active with buyers looking for value for money. People have become aware that in a lot of cases there is tremendous value to be had. A substantial number of buyers are fortunate enough to have mortgage already approved and are seriously considering their options as they find themselves in a very strong position when it comes to negotiating a sale at discount prices. The majority of the activity is in and around the city, within three miles west and three miles east where buyers are looking for homes within easy access of all facilities.

The following is a brief synopsis of some of the areas and prices where properties have been sale agreed for October and November to date.

A five bed detached in property in Knocknacarra was sale agreed at €460,000. A variety of four bed semidetached homes in the greater Knocknacarra area sold for various prices from €240,000 to €295,000. A three bed semi and a three bed detached in the Circular Road area sold for €195,000 and €370,000, while a three bed semi in Dangan Heights was sale agreed at €245,000. A four bed detached in Forster Court was sale agreed at €365,000. In Salthill a four bed semi was sale agreed at €380,000, while in Knocknacarra a three bed semi sold for €205,000.

There is incredible value to be had outside the city in areas like Clarinbridge, which offers a fantastic location coupled with value for money. In recent weeks a three bed bungalow sold for €300,000 while a four bed detached family home sold for €340,000. Many other properties in the area are under offer at the moment. Six properties were sold in The Orchard in Moylough for various prices. The asking prices on all these properties were dramatically reduced to accommodate the needs of first time buyers, and as a result of this major reduction a huge level of interest was generated in these properties.

“Referring to the properties listed here, practically in all cases there were under-bidders which again indicates that there are buyers who are genuinely interested in purchasing and are vigorously pursuing this every week,” Mr O’Donnellan said. “Our client base is growing and at the moment there are not enough properties to meet the demand. O’Donnellan & Joyce are actively looking for properties in all areas both in the city and suburbs.”

If you are considering putting your house on the market in the New Year contact Colm O’Donnellan on (087 ) 2887446, Tony Joyce on (086 ) 2529110, Niall Browne on (086 ) 6009523, or Anne Harding on (086 ) 8173335, or contact the offices of O’Donnellan & Joyce on (091 ) 564212.

 

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